TOOLS
Having the right tool for the job at hand is critical for success.
From top level Growth Strategy and Business Planning, to Product Portfolio Management, Go-To-Market, and Product Lifecycle Management, RMC has curated and cultivated a broad range of industry proven tools for product-led growth. The following are just a few examples of some of the most effective tools for guiding media technology organizations to deliver profitable growth.
The Product Portfolio Planning process is designed to consider a large universe of possibility and narrow the plan down to a smaller set of target opportunities, with the best growth and profitability characteristics, that the company can practically execute on, in line with the Three-Year Plan. This process utilizes many next level analysis tools and is best suited for larger product portfolios.
With this set of tools, the LAER framework from TSIA can be adapted and applied to operationalizing subscription across the organization for B2B or B2C. The key is thinking about subscription as an end-to-end operating and continuous customer engagement model, where all functions in the organization have responsibility and accountability for customer acquisition, success and retention.
The 360° Business Diagnostic is used to review and troubleshoot the end-to-end operating and customer engagement model in a given business area. With deep dives into all functional areas, the key to driving positive outcomes is honest and objective analysis of what's working, what's not and what needs to change to meet the organization's desired growth and profitability objectives.
The Strategic Value Messaging Framework is a very simple but effective tool for aligning the entire organization to develop product, market, and sell solutions at the strategic value level anchored to the salient market challenges facing customers. This tool is best suited for business-to-business engagements and can be leveraged from strategy creation and product development through marketing and sales.
The Business Planning framework (and related tools) help align the organization to the business strategy and plan to achieve the organization's long term growth objectives and guide down stream cross functional planning and execution. The breadth and depth of the business plan varies by each organization's needs but should have the basic components listed above.
The Project & Portfolio Governance framework (and related tools) help align day-to-day execution across all functions in the organizational to the top level company and product strategy. From Scrum and Program Team activity to Portfolio and Executive Reviews, transparency of project status and accountability for financial outcomes is well understood by all who participate in product development and delivery.
The R&D Project Ranking Tool helps allocators of the company’s capital focus on the best opportunities considering a project’s Net Present Value (NPV), Internal Rate of Return (IRR) and Strategic Fit. Once each project under consideration is scored, the overall portfolio can be ranked and categorized quantitatively by NPV and IRR, and then more qualitative management judgment can be applied to refine rank order considering strategic fit, availability of key resources, operational challenges, practical business needs, etc.
The Investment Mix Check Tool provides a simple view of product portfolio investments segmented by growth category and is designed to force leadership to rationalize investment for growth. As custodians of the product portfolio, CEOs, CPOs, Product Management and R&D leads must pay careful attention to where R&D dollars and management attention units are going, avoiding overinvestment in legacy areas, while ensuring the company growth plan is adequately funded.
The Value Based Pricing Tool helps product management, sales and the overall commercial team make informed decisions about how to optimally price a product. The value based pricing proposal balances outside-in factors such as market growth opportunity, competitive landscape, and customer survey data on product value drivers, with inside-out financial analysis considering COGs, overhead, gross margin, supply chain, and the company’s overall ability to execute.
From top level Growth Strategy and Business Planning, to Product Portfolio Management, Go-To-Market, and Product Lifecycle Management, RMC has curated and cultivated a broad range of industry proven tools for product-led growth.